Another developer buys land in Wynwood — and could bring the neighborhood its first hotel

Wynwood keeps on changing! What’s next ?

Labeled one of the hippest neighborhoods by TripAdvisor, Wynwood will have new office buildings, apartments, and even parking.

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Labeled one of the hippest neighborhoods by TripAdvisor, Wynwood will have new office buildings, apartments, and even parking.

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Real estate investment in Wynwood continues to accelerate, with yet another major firm plunking down big money for land in the neighborhood.

Quadrum Global, an international investment management firm headquartered in London, has paid $8.5 million for an assemblage of three parcels totaling 30,000 square feet at 2217 NW Miami Court. The sale closed Thursday.

The property is currently occupied by vacant warehouses and is across the street from the Wynwood Arcade, home to popular eateries such as The Salty Donut, Ooh Raw Poke and Three by Norman Van Aken.

The land is zoned for buildings up to 12 stories in height and up to 249,000 square feet of development — the highest density allowed in the Wynwood district.

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The real estate investment firm Quadrum Global has paid $8.5 million for an assemblage of three parcels of land in Wynwood on Northwest 22nd Street and Miami Court. The company is known for buying distressed properties and converting them into hotels.

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Quadrum has not announced specific plans for the land and declined to comment for this story. But the company, which owns more than $1 billion in investments around the U.S., specializes in redeveloping distressed properties into hotels.

Examples include the Nautilus Hotel at 1825 Collins Ave. on Miami Beach, which Quadrum acquired in 2011 and reopened in 2015. Quadrum has listed the 251-room hotel at an asking price of $180 million.

The Quadrum Wynwood purchase is the latest in a flurry of high-priced transactions that are fueling the rapid transformation of the former warehouse district into another upscale downtown Miami offshoot. It is located near Midtown, the Design District and the booming Edgewater area.

The Wynwood Garage, an eight-story, 428-space parking garage anchored by 20,500 square feet of retail space, opened Nov. 26. The 24-hour garage, located at 301 NW 26th St., was developed by Goldman Properties.

“Wynwood has been in the making for two decades and now it’s reaching a critical mass,” said Tony Cho, president and CEO of Metro 1, which represented the buyer and the seller in the sale and has several other Wynwood properties on the market. “There are some really impressive brands coming in. Apple, Google and Facebook are all looking in the neighborhood. There’s a creative alchemy happening that’s inspired by Wynwood’s artistic backdrop.”